Life Insurance

Life Insurance

Life Insurance is an agreement wherein the Insurer (company giving Insurance services) promises to pay a sum of money to a nominee chosen by the insured (the person buying Insurance) upon the death or mishappening occurred to the Insured. The Insured pays a certain sum of the amount of money either in Lump-sum or in an agreed time interval to the Insurer.

Looking after his or her family is the primary responsibility of an adult. They ensure that their loved ones should be looked after even after the inevitable death. Understanding this, R.B. Portfolios, bring our customers the best Insurance Products to support their loved ones shielded. Our features in Life Insurance products are:

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Term
Plan
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Child
Plan
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Retirement
Plan
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Saving and Investment
Plan

Need for Life Insurance

  • To secure that your family has some financial support in the event of your death
  • To keep a savings plan for the future so that you have a constant source of earnings even after retirement
  • To finance your kids’ education and other necessities
  • To confirm that you hold an extra revenue when your earnings are reduced due to severe disease or misfortune

Our financial experts help you through every technicality of a Life Insurance product so that you can have a better understanding of every element clearly and are a better-informed consumer. Additionally, we also endure all the hassle and paperwork too so that your daily life goes uninterrupted without the strings and hindrances.

Frequently Asked Questions

Before deciding which life insurance policy to buy you should check whether there is an availability of guaranteed returns or not, what is the lock-in period, implications if the premium is at default, details of the premium to be paid, and terms and conditions of the policy, charges that could be deducted, etc.

In the case of specific proposals, counting the age of access, age at maturity, sum insured, family history, and personal history, special medical reports may be crucial for a review of risk. E.g., if the proposer is underweight, an X-ray of the chest and lungs with reports could be needed, while for overweight proposers, special reports like Electro Cardiogram, Glucose Tolerance test, etc. would be required.

Surrender value is allowed as the percentage of the paid-up value. It is calculated as per the surrender value factor that depends on the premiums paid and elapsed duration.

The settlement option signifies the facility made available to the policyholder for receiving the maturity returns in a defined manner (the terms and conditions are clear in advance at the beginning of the contract).

The document that is normally required to claim the amount is a death certificate, policy bond, claim form, medical attendant's certificate, employer's certificate, hospital certificate, police request report, post mortem report, etc. They are usually stated in the policy bonds.
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